Nationalization of banks in post-independence India is often termed as "the single most important economic decision in terms of political, social and economic consequences". How far do you agree with this statement?
Introduction
India recently celebrated 50 years of bank nationalisation, which was undertaken in 1969 by the India Gandhi Government.
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Main Body
India recently celebrated 50 years of bank nationalisation, which was undertaken in 1969 by the India Gandhi Government.
It was considered as the most important decision an various terms :
1 It involved the Indian Govt. in the banking sector for many decades to follow till 1991.
## Social
It is considered to be an important step in financial inclusion. It medium regional disparities that created social inequalities. Govt. could use the banking sector to fulfill its developmental objectives. Lead Banks Scheme Priority Sector Lending
## Economic
It is considered to have created a viable model of banking in India. Public Sector Banks have more capitalisation and economic investment for undertaking activities. Lending
Conclusion
Thus, while PSBs have served the country well, it is time to bring reforms in them according to PS Nayak Committee.
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- Covers political, social, economic dimensions
- Includes concerns and reforms
Answer DNA
Reusable pieces worth remembering
opening
India recently celebrated 50 years of bank nationalisation...
transition
It was considered as the most important decision an various terms :
example
SBI
conclusion
Thus, while PSBs have served the country well, it is time to bring reforms...
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Page 32
Karishma Nair
Post-independence Consolidation
Economic policies
Bank nationalisation
261
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8
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analytical
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